Province proposes red tape reduction for credit unions

The provincial government is proposing legislation that would reduce red tape for credit unions.
Announced Friday by Nipissing MPP Vic Fedeli, Ontario’s finance minister, the legislation, if passed, would allow credit unions to participate in bank-led group loans. Fedeli said the move will allow the institutions to better manage risks and compete in the marketplace, while expanding access to financing for small-business customers.
“We need to ensure credit unions are able to operate